Increase Enrollment and Revenue through Differentiation January - - PDF document

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Increase Enrollment and Revenue through Differentiation January - - PDF document

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1/24/2017 Increase Enrollment and Revenue through Differentiation January 24, 2017 Kris Murray President & Founder What Well Cover Today How to define your programs key value differentiators to attract more families to

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Increase Enrollment and Revenue through Differentiation

January 24, 2017

Kris Murray President & Founder

What We’ll Cover Today

  • How to define your program’s “key value

differentiators” to attract more families to your program

  • How to identify additional products and services

that will bring in more revenue than tuition and

  • ther funding without “fundraising”
  • Strategies for launching your new products and

services

  • How to locate resources to support your new

revenue boosting campaigns

  • Open Q&A

But first…just a couple minutes about my background. I’ve been a coach and consultant exclusively for early childhood businesses since 2009.

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I’ve written two published books

  • n the topic.

I’ve been featured in USA Today, Newsweek, Entrepreneur Magazine, and Child Care Exchange – to name a few. I just received the Moving America Forward award from William Shatner & Doug Lewellyn.

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I’ve met countless celebrities as I try to move the cause of early childhood education forward.

Stedman Graham

Sean Astin Gene Simmons Leeza Gibbons

Most importantly, I get the chance to serve over 300 awesome ECE owners and their staff, with my coaching programs.

Here’s a good chunk of our main program, the Child Care Success Academy . That was a good day. ;-)

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Which means my team and I get to have a positive impact on literally thousands of families with young children.

And here’s a recent pic of me with my kids, Owen and Maeve. This was taken a couple weeks ago on Christmas Eve. We live in a tiny mountain town in Colorado.

It’s Better to Be DIFFERENT than GOOD

  • Parents assume you do a quality job
  • They haven’t been educated about the real

differences in child cares and preschools

  • They don’t know what accreditation really is
  • r what it requires
  • At the end of the day, they really just want to

know how your program is DIFFERENT than the others they are considering

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1/24/2017 5 If you leave it up to them to figure out your differentiating value… …they have no choice but to decide based on price and/or location. Four Steps to Identify Your “Differentiating Value”

  • 1. Get clear on what your competitors offer

/ are saying

  • 2. Know your clients and prospects
  • 3. Identify the top 3-4 differences you have

that are important to your market

  • 4. Play with the verbiage to make them

“pop”

“Differences” Re-Defined

Before:

  • Loving, caring staff
  • Award-winning

curriculum

  • Meals and snacks

included

  • Indoor playground

After:

  • Combined teacher

experience of 232 years

  • Small class sizes which

supports individual learning

  • Fresh fruit and veggies at

every meal (not canned)

  • Outdoor classroom with

nature-based features incorporated into curriculum

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1/24/2017 6 The 3 Ways We’re Different

(from most other programs in the area)

  • We are NAEYC accredited which holds us to a

higher standard of quality (kind of like the Good Housekeeping seal of approval)

  • We have a nature-scape playground that

backs to open space and ponds (which kids love)

  • We provide fresh fruits & veggies at every

meal or snack (not canned fruit)

A List of Unique Benefits & Features to Get You Started…

  • Free diapers
  • Largest playground
  • Indoor playground
  • Fresh fruit & veggies
  • Organic meals
  • Transportation
  • Accreditations
  • Special programs (baby yoga)
  • “Best of” award
  • ZONO (cleaner, no bleach)
  • State of the art security
  • Online camera system (PB&J

TV)

  • Teacher tenure / degrees
  • On-site owner
  • Longest in market
  • Multiple generations attended
  • Owned by a local mom
  • Homework Club
  • Activities all-inclusive
  • Digital parent communication

app

  • Daily photos / videos sent

electronically

  • Eco-Healthy certified

www.ecohealthychildcare.org

Brochure Example – Back

Child’s World Academy (NY)

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1/24/2017 7 Educational Playcare (CT)

http://www.educationalplaycare.com

Woodcrest Preschools (CA)

http://www.woodcrestpreschool.com/

Ways to Figure This Out

  • Study Your Competition (mystery call, shop,

visit their website, ask to be sent info)

  • Ask Your Parents

– Surveys – “Focus Groups”

  • Ask Your Staff
  • Create (add) a Unique Benefit that matches

your market

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Poll Time! Advanced: Segment by Age

Infants/Toddlers

  • Free diapers & wipes
  • Baby sign language
  • 2 photos/day sent real time

through Tadpoles

After-School

  • Homework Club run by former 2nd

grade teacher

  • State of the art gaming station

(after homework is done)

  • Special playground designed to

appeal to older kids

Preschool / PreK

  • Formal Kindergarten Readiness

program

  • PreK teacher has 23 years of

experience in Kindergarten and Pre-K

  • Fun monthly field trips that

support learning goals

The “Kris Murray Value Platform”

Owner’s Story / Expertise Expert Endorsements Awards / Accreditations Testimonials / Reviews (especially focused on childrens’ transformations) Unique Benefits / Differences

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1/24/2017 9 “Laugh Break”

My high school graduation, 1984

Adding New Streams of Revenue / Income to Your Program Four Popular Methods for Adding Revenue Streams

  • 1. Partner with 3rd party products and services,

to sell to your families

– Convenience items like portraits, hair cuts, take- home dinner services – Curriculum boxes or learn-at-home items

  • 2. Add new services to your program, that tie

in with your core offering

– Birthday parties, tutoring services, school age “vacation camps”, mommy & me yoga on Saturdays or weeknights

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1/24/2017 10 Four Popular Methods for Adding Revenue Streams

  • 1. Partner with 3rd party products and services,

to sell to your families

– Convenience items like portraits, hair cuts, take- home dinner services – Curriculum boxes or learn-at-home items

  • 2. Add new services to your program, that tie

in with your core offering

– Birthday parties, tutoring services, school age “vacation camps”, mommy & me yoga on Saturdays or weeknights

Four Popular Methods for Adding Revenue Streams

  • 3. Events Held at Your School
  • Mom to Mom sales (entrance fee)
  • Seminars, parenting workshops
  • 4. Leasing Out Your Space on Off Times

(weekends or evenings after close)

  • Church groups, Girl/Boy Scout meetings, AA

Meetings, Weight Watchers, other community meetings looking for a home

Four Popular Methods for Adding Revenue Streams

  • 3. Events Held at Your School
  • Mom to Mom sales (entrance fee)
  • Seminars, parenting workshops
  • 4. Leasing Out Your Space on Off Times

(weekends or evenings after close)

  • Church groups, Girl/Boy Scout meetings, AA

Meetings, Weight Watchers, other community meetings looking for a home

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Other Innovative Revenue Ideas

  • Special drop-in programs

– Gainesville “Gator Kids” club on Saturdays

  • Membership programs
  • “Preferred” Waiting List – pay a fee to cut the

line

  • Retail shop or coffee bar added to your lobby
  • Amazon Prime
  • Partner with local elementary to run their

before/after school program

Think Strategically…

  • Be clear about your purpose / goal!
  • To add $10K/month in revenue (so we won’t have

to fundraise)

  • To add value to our parent experience (which will

help family retention)

  • To add unique benefits / differentiation (which

will help enrollment)

  • Think about the time it will take vs. the payback

How to Launch New Products and Services

  • Create a launch plan (mini—marketing plan)

for your new offering

  • When will you announce it?
  • How will you promote it?
  • Will there be an initial “deal” or incentive
  • ffered?
  • Always use a deadline for taking action
  • REMIND people often
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1/24/2017 12 7 Effective Ways to Promote a Launch

  • r Special Offer
  • 1. Facebook ads or “boosted” posts
  • 2. Email blasts to your list
  • 3. A landing page on your website, as well as a

blurb on your home page

  • 4. Your Google Maps page / listing
  • 5. Your parent newsletter
  • 6. Add special signage (banners, flutter flags, etc)
  • 7. Community marketing / “muffin runs”

Resources for Adding New Revenue Streams

  • ECE groups – LinkedIn, FB, coaching programs
  • Mommy blogs (always promoting cool new

products)

  • Companies that serve parents with young

children

– Such as Dilly’s Treehouse, the sponsor of this webinar

  • Local community resources

– Chamber of Commerce, Mommy and Me groups, local businesses that target your shared demographic audience

Summary

  • It’s better to be different than to be good
  • You must tell parents your unique VALUE
  • A great way to differentiate yourself is by adding

unique programs, services, or partnerships

  • Plus, these can provide additional revenue

streams to your school

  • Be strategic about what path you choose
  • Launch effectively by having a plan and using

multiple media

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Did You Know?

The Child Care Success Summit 2017 650+ ECE owners and directors 30 exhibitors & sponsors The largest event in the world of its kind Join Us!! October 5-7, 2017 - CHICAGO www.childcaresuccesssummit.com

A Thank You Gift for Being With Me Today

Go to www.Childcare-Marketing.com/get-started And sign up for our free report: “5 Big Mistakes to Avoid When Building Your Successful Child Care TEAM”

Thank You!

Claim your Free Report at… www.Childcare-Marketing.com/ get-started

www.Childcare-Marketing.com kris@childcare-marketing.com Office Line: 970-349-8905

Kris Murray

President & Founder

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1/24/2017 14 And I’d love to connect with you on social media! FB: FB.com/childcarebusiness Twitter: @kris_murray LinkedIn: thekrismurray YouTube: krismurraycoach

Open Q&A